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He currently has more than $5.7 million in the bank, according to his campaign. The money was raised in the past year from 6,200 donors.

Reports are due to state campaign officials Jan. 20. No other candidate is expected to declare more money than O'Malley.

By comparison, George W. Owings III, who announced his candidacy earlier this month, said he has only about $300 or $400 in the bank. He called the governor's donations "impressive."

Former Republican Gov. Robert L. Elrlich Jr. is contemplating a rematch. He has not focused on fundraising in recent months, but last January Ehrlich reported having $151,529 in his campaign account, which remains open.